Personal Loan Eligibility Criteria

To qualify for a personal loan, you have to meet certain criteria. Below are the important factors that lenders take into consideration to decide your eligibility for a perso loan.

• Age
  1. Minimum Age: 21 years & Maximum Age: 65 years
• Income
  1. Minimum Income: ₹15,000 per month
  2. Income Stability: Regular income from a job or business
• Employment
  1. Job Type: Salaried or self-employed individuals
  2. Work Experience: 1-2 years of work experience (varies by lender)
• Other Requirements
  1. Residency: Indian citizen or resident
  2. KYC Documents: ID proof, address proof, and income proof

Documents required to apply for Personal Loan

• ID Proof: Aadhaar card, PAN card, or driving license
• Address Proof: Utility bills, bank statements, or rental agreements
• Income Proof: Salary slips, Form 16, or income tax returns
• Bank Statements: Recent bank statements (6-12 months)